NEW YORK: Goldman Sachs Group Inc agreed to a US$79.5mil settlement with shareholders who blamed lax oversight by the bank for its costly involvement in the 1MDB bribery scandal.
The money will be used to pay for "compliance activities” at the bank, including enhanced internal controls and accounting and the running of "a rigorous anti-corruption compliance programme,” according to a pension fund that sued the company and its executives on behalf of shareholders.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
